Consumer prices in Canada rose 0.7 percent year-on-year in June 2020, following a 0.4 percent fall in May and above market expectations of a 0.3 percent gain. It was the biggest increase in consumer prices since March 2011, as cost of transport rebounded (0.1% vs -3% in May), as gasoline prices dropped at a slower pace for the second successive month (-15.7% vs -29.8%) mainly due to higher demand amid the gradual reopening of businesses and public services and a general rise in local travel. Also, prices increased further for shelter (1.7% vs 1%); and alcoholic beverages, tobacco products & recreational cannabis (0.6% vs 0.2%). Additionally, cost decreased less for clothing & footwear (-2.6% vs -5.4%) and recreation, education & reading (-1.4% vs -2.6%). On the other hand, prices slowed for food (2.7% vs 3.1%); and health & personal care (0.5% vs 0.9%). On a monthly basis, consumer prices went up 0.8%, the most since January 2017, following a 0.3% rise in the prior month.

Inflation Rate in Canada averaged 3.12 percent from 1915 until 2020, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada

Inflation Rate in Canada is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.10 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 1.70 percent in 2021 and 2.20 percent in 2022, according to our econometric models.

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Canada Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 -0.40 21.60 -17.80 1915 - 2020 percent Monthly
2002=100


Calendar GMT Actual Previous Consensus TEForecast
2020-04-22 12:30 PM Mar 0.9% 2.2% 1.2% 1.5%
2020-05-20 12:30 PM Apr -0.2% 0.9% -0.1% -0.1%
2020-06-17 12:30 PM May -0.4% -0.2% 0% 0%
2020-07-22 12:30 PM Jun 0.7% -0.4% 0.3% 0.3%
2020-08-19 12:30 PM Jul 0.7%
2020-09-16 12:30 PM Aug
2020-10-21 12:30 PM Sep 0.5%
2020-11-18 01:30 PM Oct


News Stream
Canada June Inflation Rate Above Forecasts
Consumer prices in Canada rose 0.7 percent year-on-year in June 2020, following a 0.4 percent fall in May and above market expectations of a 0.3 percent gain. It was the biggest increase in consumer prices since March 2011, as cost of transport rebounded (0.1% vs -3% in May), as gasoline prices dropped at a slower pace for the second successive month (-15.7% vs -29.8%) mainly due to higher demand amid the gradual reopening of businesses and public services and a general rise in local travel. Also, prices increased further for shelter (1.7% vs 1%); and alcoholic beverages, tobacco products & recreational cannabis (0.6% vs 0.2%). Additionally, cost decreased less for clothing & footwear (-2.6% vs -5.4%) and recreation, education & reading (-1.4% vs -2.6%). On the other hand, prices slowed for food (2.7% vs 3.1%); and health & personal care (0.5% vs 0.9%). On a monthly basis, consumer prices went up 0.8%, the most since January 2017, following a 0.3% rise in the prior month.
2020-07-22
Canada Consumer Prices Fall the Most in Over 10 Years
Consumer prices in Canada dropped 0.4 percent year-on-year in May 2020, following a 0.2 percent fall in the previous month and below market expectations of a flat reading. It was the biggest decline in consumer prices since September 2009, as cost slowed for food (3.1% vs 3.4% in April); shelter (1% vs 1.3%); health & personal care (0.9% vs 1.3%); and alcoholic beverages, tobacco products & recreational cannabis (0.2% vs 0.5%). Also, cost of household furnishings & equipment fell (-0.2% vs 0.3%); and prices decreased further for clothing & footwear (-5.4% vs -4.1%) and recreation, education & reading (-2.6% vs -0.7%). Meanwhile, cost of transport dropped less (-3% vs -4.4%), of which gasoline (-29.8% vs -39.3%). On a monthly basis, consumer prices went up 0.3 percent, rebounding from a 0.7 percent fall in the prior month.
2020-06-17
Canada Consumer Prices Fall for 1st time in Over 10 Years
Consumer prices in Canada fell 0.2 percent year-on-year in April 2020, after rising 0.9 percent in the previous month and compared with market expectations of a 0.1 percent drop. It was the first decline in consumer prices since September 2009, as cost of gasoline plunged at a record pace (-39.3% vs 21.2% in March) amid lower oil demand due to limited travel and business closures and an oversupply in the oil market. Also, cost of clothing & footwear fell (-4.1% vs 2.7%); and prices of recreation, education & reading dropped further (-0.7% vs -0.5%). In addition, prices slowed for shelter (1.3% vs 1.9%); and health & personal care (1.3% vs 1.6%). Meanwhile, prices rose at a faster pace for food (3.4% vs 2.3%); household furnishings & equipment (0.3% vs 0.2%); and alcoholic beverages, tobacco products & recreational cannabis (0.5% vs 0.4%). On a monthly basis, consumer prices went down 0.7 percent, following a 0.6 percent fall in the prior month.
2020-05-20
Canada Inflation Rate Falls to Near 5-Year Low
The annual inflation rate in Canada dropped to 0.9 percent in March 2020 from 2.2 percent in the previous month and below market expectations of 1.2 percent. It was the lowest inflation rate since May 2015, as economic activity slowed due to the coronavirus pandemic. Cost fell for transportation (-1.2 percent vs 4.4 percent in February), due to gasoline (-21.2 percent vs 7 percent) amid lower global demand for crude oil following the covid-19 outbreak and an oversupply of oil amid tensions between oil-producing nations; and recreation, education & reading (-0.5 percent vs 0.7 percent). Also, prices eased for food (2.3 percent vs 2.4 percent); shelter (1.9 percent vs 2.3 percent); and health & personal care (1.6 percent vs 1.9 percent). Meanwhile, cost of household furnishings & equipment rebounded (0.2 percent vs -0.2 percent). On a monthly basis, consumer prices went down 0.6 percent, the most since December 2014, after a 0.4 percent gain in February.
2020-04-22

Canada Inflation Rate
In Canada, the most important categories in the CPI basket are Shelter (27.5 percent of the total weight) and Transportation (19.3 percent). Food accounts for 16.1 percent; Household Operations, Furnishings and Equipment for 11.8 percent; Recreation, Education and Reading for 11.8 percent; Clothing and Footwear for 5.7 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for the remaining 3 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2009.